Is it The Great Resignation or The Great Retrenchment? Truth be told, I’m just as confused. One minute, we are reading how employees are preparing to leave their jobs for greener pastures, the next, a well-known crypto company wasn’t just downsizing its workforce, it was rescinding job offers people had already accepted.
As an employee, it must be frustrating to feel like you are caught between a rock and a hard place. Should you play it safe, shoulder the effects of the inflation and see how you can stretch your dollar harder and further? Or, should you ask for a salary review and brace yourself for rejection and maybe be given the dreaded handshake.
“The fact of the matter is that there is still a labour shortage. The Great Resignation contributed to this as well as the reawakened labour market. Which means, if your employer is unable to support you, there most probably is another firm that might be able to deliver,” says Richa Doyle, Director of Page Personnel Singapore.